Monthly Newsletter of Sports Economics : Ekospor - Issue #36 Sports Betting

Sports betting is one of the most popular forms of gambling because it taps into the passion of sports fans. A bet placed on a race or a game allows fans to prove their knowledge of a sport or to show their loyalty to a particular team or competitor. In addition to promoting camaraderie among friends, sports betting can enliven otherwise boring or one-sided contests when handicapping systems offering odds and point spreads increase the bettors’ stake in the competition.

Although legal sports betting is increasingly common, wagering on athletic competitions is often illegal and is conducted through bookmakers, also known as bookies (operating as individuals or for crime organizations), casinos, Internet gambling operations (which are legal in some countries), and other entities.

Among the sports that have traditionally been associated with heavy betting are horse racing, dog racing, and boxing, but, increasingly, gamblers wager on the outcomes of most professional sports. mORE...

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